Community Development Revolving Loan Fund Frequently Asked Questions

May 17, 2019

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1 Community Development Revolving Loan Fund ● Frequently Asked Questions

Community Development Revolving Loan Fund FAQs • 2019

Table of Contents Introduction ............................................................................................................. 2 General Program Information ................................................................................. 3 Eligibility and Requirements ................................................................................... 4 Application Process ................................................................................................. 5 Reimbursement Process .......................................................................................... 7 CyberGrants/Technical Support .............................................................................. 8

2 Community Development Revolving Loan Fund ● Frequently Asked Questions

Introduction

These frequently asked questions are intended to answer commonly asked questions about the NCUA’s Community Development Revolving Loan Fund (CDRLF) Program.

Credit unions are encouraged to review the other CDRLF program materials on the NCUA’s website for specific information about program requirements or a particular initiative. The capitalized terms in this document are specified in the Notice of Funding Opportunity announcements.

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General Program Information

1. Where can I find general information about the CDRLF program? You can find details about the CDRLF program by visiting the NCUA’s webpage: NCUA’s webpage.

2. What type of initiatives are available for funding under the CDRLF program? The CDRLF program serves as a source of financial support, in the form of federal financial assistance (grants and loans), for low-income credit unions. The CDRLF consists of the various initiatives listed: The loan initiative is open year-round, subject to funds availability. Currently, a 5-year balloon note with a low interest rate of 1.50 percent is available. CDRLF loans can be used for various purposes. More information about the potential uses of a CDRLF loan can be found in the Notice of Funding Opportunity. The urgent need initiative is also open year-round. Urgent need grants can be used to address an unexpected emergency or to provide natural disaster relief. More information about the uses of the urgent need initiative can be found in the Urgent Need grant guidelines. The annual grant round cycle consists of different grant categories that are intended to help low-income credit unions improve and expand the availability of financial services to underserved members and communities they serve. The grant categories available for the 2019 Grant Round are Counselor Certification, Digital Services & Security, Training and Underserved Outreach. The 2019 Grant Round will open on June 2 and close by July 20. More details about the 2019 Grant Round can be found in the 2019 CDRLF Grant Round guidelines.

3. What is the maximum amount I can apply for each initiative?

For loans, eligible credit unions may receive up to $500,000. For urgent need projects, up to $7,500 is available per credit union. For the 2019 grant initiatives offered, below are the grant limits for each initiative:

• Counselor Certification - $5,000 • Digital Services & Security - $8,000

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• Training - $5,000 • Underserved Outreach - $100,000

4. How long does it typically take to process an application?

Loan applications may take up 60–75 days to be fully processed. Urgent need applications are processed within 15–30 days. Applications for other grant initiatives are generally processed within 60 days depending on the number of applications received during the grant round. An anticipated timeline is provided in the grant guidelines.

5. Where do I apply for a CDRLF grant or loan? All credit unions must use the NCUA’s CyberGrants portal to apply for grants or loans.

Eligibility and Requirements

6. What materials do I need to register in the NCUA’s CyberGrants portal? All credit unions must complete the following three steps before registering for CyberGrants and submitting an application: • Ensure the credit union’s low-income designation is active. • Obtain a Data Universal Number System (DUNS) number from Dun &

Bradstreet (D&B). • Have an active System for Award Management (SAM.gov) account status.

7. How can I get information about my low-income designation status?

You can use the NCUA’s Research a Credit Union tool to view your low-income designation status. Enter your charter number and click the FIND button. Then, click the VIEW button. The results page will indicate whether your credit union has the low-income designation.

8. What should I do if I receive an error message in CyberGrants stating that

I do not have a low-income designation? You should try entering and submitting your charter number again. If you continue to receive this error after three attempts, then email a copy of the low-

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income designation approval letter to CUREAPPS@ncua.gov. For assistance in determining whether your credit union qualifies for a low-income designation, please contact DCAMAIL@ncua.gov.

9. What is the DUNS number and how do I obtain it? The DUNS number is a unique nine-character number used to identify your organization. The federal government uses the DUNS number to track how federal money is allocated. You can obtain a DUNS number by visiting the DUNS & Bradstreet (D&B) website or calling 1.866.705.5711 to register or search for a DUNS number. Registering for a DUNS number is free of charge.

10. What is the System for Award Management (SAM.gov) and how do I register? SAM.gov is a web-based, government-wide application that collects, validates, stores, and disseminates business information about the federal government's trading partners in support of the contract awards, grants, and electronic payment processes. An active SAM.gov account is required to apply for the CDRLF program. The SAM registration process is free of charge. Credit unions that have an existing SAM.gov account must recertify and maintain an active account status annually. To register, follow the instructions in the SAM.gov Quick Start Guide.

Application Process

11. What does the application process consist of? The grant and loan process consists of the following steps that are outlined below. Process for Grants • Fulfill all requirements for the grant and submit your request online. • The NCUA will thoroughly review your application. • The NCUA will make a final decision and notify you if the request is

approved or denied by email. • If your request is approved, then you may initiate the project you applied for. • After your project is completed and you fulfill all of the grant requirements

then you may submit a reimbursement request.

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Process for Loans • Fulfill all requirements for the loan and submit your request online. • The NCUA will thoroughly review your application. • The NCUA will make a decision and notify you if the request is tentatively

approved or denied by email. • If your request is tentatively approved, the NCUA will provide you with

instructions to complete the loan documentation. • Review, sign, and submit the required loan documentation including, but not

limited to, a loan agreement, promissory note, and amortization schedule. • The NCUA will review and sign your loan documentation, then notify you

of the firm approval by email. • The NCUA will provide you with copies of the signed loan documentation. • The NCUA will deposit the funds into the credit union’s account on the

effective date of the loan.

12. Where do I send the materials to support my application?

The CDRLF grant and loan application is fully electronic and application materials are submitted through the NCUA’s CyberGrants portal. You will be prompted to upload any required documents in the application.

13. How will I be notified about the final decision of my application? You will receive a formal letter by email regarding the final decision of your application from the Director of the Office of Credit Union Resources and Expansion. The email will be sent to the points of contact in your CyberGrants application.

14. If my application is approved, how much time do I have to complete my project? For loans, the project timeline is determined by the credit union. However, the term of the loan is 5 years. For the grants, the project must be completed by the grant expiration date provided in the formal approval letter. If additional time is needed, a grant extension request must be submitted to the NCUA prior to the grant expiration date. The NCUA will review the extension request and provide a final decision. If you believe you need an extension, contact CUREAPPS@ncua.gov for more information.

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15. When do I receive the funds if I am approved for a grant? All CDRLF grants are reimbursements. Credit unions must use their own funds for the approved purpose, then request a reimbursement for the approved expenses. The grant monies will be direct deposited to the credit union when the reimbursement request is reviewed and approved.

16. When do I receive the funds if I am approved for a loan? CDRLF loans are disbursed on the effective date of the signed loan agreement. The loan monies will be direct deposited to the credit union.

Reimbursement Process

17. What does the reimbursement process consist of? The reimbursement process consists of the following steps that are outlined below. Process for Reimbursements • After your project is completed and you fulfill all of the grant requirements,

then you may submit a reimbursement request. • Review the reimbursement guidelines and gather the documents required for

your initiative. • Submit your reimbursement request online before the grant expiration date. • The NCUA will thoroughly review your reimbursement request. • The NCUA will make a final decision and notify you if the reimbursement

request is approved or denied by email. • If your reimbursement request is approved, then NCUA will deposit the

funds into the credit union’s account.

18. Where do I request a reimbursement for the approved grant? If you are approved for a grant, you will receive reimbursement instructions by email. Similar to the application, reimbursement requests are fully electronic and must be completed online.

19. What materials do I need to submit a reimbursement request? You will also be asked to provide information regarding the outcome of the

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project. Credit unions may be required to provide a proof of purchase, proof of payment, and certification of funds spent unless noted otherwise in the reimbursement guidelines. The specific requirements for each initiative is subject to change and will be outlined in the post grant award guidance provided to the grant awardees. Examples of proof of purchase include invoices from vendors, contracts, or work orders. Proof of payment examples include copies of cleared checks, ACH confirmation receipts, or credit card statements. Other forms of documentation may be acceptable, but approval from the NCUA is required prior to submitting a reimbursement request.

20. Can I reallocate the funds from one initiative to a different initiative? Credit unions are not allowed to apply for reallocation for their approved funds. If you are unable to use the grant funds for the initiative you were approved for, please contact the NCUA to have the grant cancelled. Having your grant cancelled will not impact your credit union for future grant awards.

CyberGrants/Technical Support

21. How do I reset the password to my CyberGrants account? You can reset your password by selecting the “Forgot your password?” button on the login page. You will need the email address used to register your account.

22. How can I continue working on an application I already started? Login with the email address and password that was used to create the application. On the Welcome Page, look for the application you wish to continue. Then select the "Continue" button next to the application.

23. How do I delete an application that I no longer need? You cannot delete applications that are submitted. If you have not already submitted the application, then select the “Trash Can” icon next to the project title of the application you want to delete. The following page will prompt you to confirm the deletion.

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24. How can I update or delete a contact in my application? Select the contact's name in the contact information section of the application. Update the contact information, then select “Save and Proceed”. Delete the person by selecting the “Delete Contact” button. Keep in mind that one primary contact and one secondary contact is required.

25. How can I move between sections of the application without completing all of the required fields first? Select a link in the timeline located at the top of each page to jump to your preferred section. The information you entered will be saved when you jump to another section.

26. How do I upload the supporting documentation into CyberGrants? The following steps will help you upload your supporting documents. • Save the document you plan to upload in an accessible location on your

computer or a shared drive. • In CyberGrants, select the “Upload File” button in the Upload field. If you

have a pop up blocker, you will need to disable it in order to proceed. • A mini-browser or new window will open. Select the “Browse” button, then

locate the file on your computer. Highlight the file to select it. • Select the “Upload File” button and the file name should appear under the

“Files already uploaded” section. • Select the “Done” button to return to your CyberGrants screen or repeat

steps 3 and 4 to upload additional information. The webpage will refresh and the file will appear in the "Upload File" field.

27. How can I delete an uploaded file?

Select the “Delete File” button next to the uploaded file. You will be prompted to select “Delete”, then select the “Done” button.

28. How do I print my application? The best way to view and print your application is on the “Review Your Application” page. Ensure that all the required fields on the application are completed. Then go your browser toolbar, select “File”, and then select “Print”.

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29. What should I do if I experience technical issues using the CyberGrants system? If you are experiencing technical difficulties using CyberGrants or have a technical question regarding the system, select the “Need Support” at the bottom of the webpage. Then, select the “I still have a question” option and submit your support request. The technical support team does not have a contact phone number but if you submit an inquiry in writing with your contact information, they will address the inquiry. For questions related to the CDRLF program, email CUREAPPS@ncua.gov.